Hyundai Merchant Marine (HMM) will join THE Alliance as a full member

Hyundai Merchant Marine (HMM) will join THE Alliance as a full member

South Korean shipping company Hyundai Merchant Marine (HMM) has become the fourth company to join The Alliance, a group of ocean carriers who are pooling resources deliver better quality, be more efficient, and reduce emissions.

HMM joins Hapag-Lloyd, Ocean Network Express (ONE) and Yang Ming as a full member, with a new contract between the four lines due to start on 1 April 2020.

"HMM is a great fit for The Alliance as they will provide a number of new and modern vessels, which will help us to deliver better quality and be more efficient – and it will help us also to further reduce our emissions," says Rolf Habben Jansen, CEO of Hapag-Lloyd.

The South Korean company says it has ordered 12 23,000 TEU vessels which will be delivered in the second quarter of 2020.

Additionally, eight 15,000 TEU new ships will join HMM's fleet in the second quarter of 2021. HMM's 23,000 TEU new vessels will be deployed in the Far East–North Europe trade and will further strengthen The Alliance´s service portfolio.

"Being a full member of The Alliance gives us a lot of pride. We are convinced that we will be successful and generate additional value for our customers, employees and shareholders with combined experience, strategic skills, competitive fleet and strong focus on our clients' needs," says Jae-hoon Bae, president and CEO of HMM.

The Alliance was founded by Hapag-Lloyd along with NYK, MOL and "K"Line (which merged to become Ocean Network Express – ONE) and Yang Ming. It started its cooperation on 1 April 2017.

At the of last year, AP Moller Maersk, CMA CGM, Hapag-Lloyd, MSC and Ocean Network Express (ONE) said they were preparing to form a global association of ocean shipping lines that would standardise industry practices as a way of making the sector more efficient.